Source: Federal Reserve Bank of Chicago  

Release: Chicago Fed Midwest Economy Index  

Units:  Index Standard Deviation, Seasonally Adjusted

Frequency:  Monthly

Notes:

This series represents the contributions of Midwest Region's manufacturing sector to the Relative Midwest Economy Index (RMEI). The Midwest Region contribution specifically focuses on indicators existing only at a regional level. This series is the weighted average of regional variables measuring the growth in nonfarm business activity based on manufacturing sector indicators for the Midwest.

A zero value represents an average contribution to RMEI by the Midwest Region's manufacturing sector, a rate historically consistent with the growth of the national economy, whereas positive values indicate above-average relative contribution; and negative values indicate below average relative contribution.

For further information about the Relative Midwest Economy Index, go to http://midwest.chicagofedblogs.org/archives/2011/03/mei_by_scott_br.html and http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf.